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The Facebook spring is over. The dog days of August have taken hold.
In May, when investors tripped over themselves to buy a piece of Facebook, not even the skeptics predicted what has happened. Three months after the offering, shares have lost more than 40 percent of their value, closing at just under $21.81 on Friday, from $38 on May 18.
The stock began to dip immediately after its debut on the public markets, and at first technical errors with the offering were blamed. But these (...)